Thanks. This has been bothering me for months. Fantastic!
Thank you so much for the info there.
Finally, someone who knows what they're talking about.
Thank you. Thank you. Understanding that made my day.
Worked perfectly. I was going nuts trying to figure it out!
Other:

This is NOT abusive. I pressed this button by accident.It is spam / self promotion.It is offensive or harmful.It does not contain enough information.It contains or requests illegal information.It does not make sense.

"Marginal income tax bracket depends upon his income and his tax-filing classification..."

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Approximately around 25% An individual`s marginal income tax bracket depends upon his income and his tax-filing classification. As of 2010, there are six tax brackets for ordinary income (ranging from 10% to 35%) and four classifications: single, married filing jointly (or qualified widow or widower), married filing separately, and head of household.
Taxpayers are also allowed a personal exemption depending on their filing status. The personal exemption amount in 2009 is $3,650 per person. The link will help you in calculating the tax rate you need to pay:
http://www.irs.gov/individuals/article/0,,id=96196,00.htmlhttp://www.investopedia.com/calculator/USTaxBracket.aspx
The people within this bracket have a less risk of being audited because the IRS focuses their attention on more than 50 000$. In case there`s an IRS problem or audit, always save vital records to utilize as reference and keep your exposure to a minimum. If you wish to pay less tax, there are various steps you can do and various things that you really have to avoid if you want the IRS to stay away or for you to stay out of prison.

"If this happens you`ll have $1600 less taxes withheld..."

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Your tax liability will be the same, but there will be an $800 tax credit, which basically counts as though you paid $800 more than you really did. Be careful. If both you and your husband said "married" on your W-4, then its possible that both of your employers will take out $800 less. If this happens you`ll have $1600 less taxes withheld, but you`ll only get one $800 tax credit. Its typically better to try to figure your W-4 withholding so that you get a small refund, because when you over-pay and get a big refund, you are basically loaning your money to the IRS at 0.0% interest. However, if this works well for you as a way of forcing you to save, then I`m not going to object. I will say you could get the same effect by setting up automatic transfers to savings, or by having your employer direct deposit a portion into savings, and put only the remaining amount in your checking account.

"Marginal income tax bracket depends upon his income and his tax-filing classification..."

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For 30000 the tax will be It can be approximately around 25% An individual`s marginal income tax bracket depends upon his income and his tax-filing classification. Taxpayers are also allowed a personal exemption depending on their filing status. The personal exemption amount in 2009 is $3,650 per person. The link will help you in calculating the tax rate you need to pay: http://www.irs.gov/individuals/article/0,,id=96196,00.htmlhttp://www.investopedia.com/calculator/USTaxBracket.aspx If the person earns 50,000 pounds in an year, in that case his monthly income will come up to 961.00 pounds. Out of this amount, 124.00 pounds will be exempted from tax deduction and the person will pay 20% tax and roughly 4% Nion the balance amount.

"Single and married filing separate taxpayers are allowed a standard deduction of $5,700..."

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For 2009, single and married filing separate taxpayers are allowed a standard deduction of $5,700. Married filing jointly and surviving widow(er)s are allowed $11,340 and head of household taxpayers are allowed $8,350. Taxpayers over 65 or blind are given an additional $1,100 standard deduction ($2,200 if over 65 and blind). A taxpayer may choose to take the standard deduction or they may itemize their deductions if the amount of itemized deductions is greater than the standard deduction.
Taxpayers are also allowed a personal exemption depending on their filing status. The personal exemption amount in 2009 is $3,650 per person.

"If you are making 100k per year then it means..."

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If you are making 100k per year then it means you are making a gross of 8333 per month. this is a good income if you do not have any debt to your name. there are various places to invest like bank, stocks, mutual funds etc. every investment serves different purpose and give you a palette of options to invest. so please let me know where you are planning to invest, depending on which i can tell you the rate of interest that can be earned on your income. hope it helps and your answers are given. so please respond and help me with the ideas in you mind.

Someone said: What exactly are your credentials amigo. You don`t seem to know simple English spelling, punctuation and grammar. How are people supposed to trust you on giving out business advice. Also, what`s in it for you if I or any one consults with you? Can you allay my concerns on these issues before I take it to the next step.

"You may itemize and that will reduce your income tax owed..."

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This is only for you.
Income: $80,000
Standard deduction plus one exemption: $8,750
Taxable income: $71,250
Income Tax: $14,628
Social Security and Medicare Tax: $6,120
After income and payroll taxes: $59,252
However, you may itemize and that will reduce your income tax owed. You may contribute to a retirement plan, or pay your health insurance pretax, and that will reduce what goes into your pockets as well as reduce the taxes you owe.
Check into your state tax as well because that can be substantial.

"Your federal tax would be 4917.00 and your provincial tax would depend on the province..."

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In Canada with basic exemptions only (self, CPP, EI) your Federal tax would be 4917.00 and your provincial tax would depend on the province. Ex. Alberta would be 2538.00, Ontario 2266.00 and NL 3357.00. so in Alberta you would have a total of 7455.00, Ontario 7183.00 and NL 8274.00 This is an average of approx 18 % of 45000.00. In Canada the more you make the higher taxes you will pay.

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If i make 17000 a year do i owe federal tax?

If you make 17000 how much will go to federal taxes?

- Whats the normal tax on 17000

If i put 16 000 in income for healthcare gov but only make 10 000 will i owe?

If i make approximately 17 000 a year and have nothing withheld how much will i owe?

Does a retiree making under 17 000 a year filefederl taxes?

If i made 17000 and 25000 withhelf refund?

If i earn 17000 in selling paintings how much tax do i owe?

How much federal tax to pay on 17000 00?

If you make less than 17 000 will you get monet back?

How much tax on income 17 000 00?

How much should someone who makes 17000 pay in taxes?

Would i owe taxes if i made 17 000?

How much in federal taxes come out if i make 17 000?

I only make 17000 why is the irs not giving me all my money back?

If your a single student and made 17000 dollars will you owe much federal income tax?

Can you get a tax credit for making less than 17000?

If i make less than 20000 do i pay irs?

If i made 17 000 dollars in taxes how much federal should be taken out?

Do i have to pay income taxes on less then 17 000 for?

How much taxes should i withhold for a 1099 of 17000?

If i made 17 how much should i of paid in taxes?

If i am retired and making less than 20 000 00 annually how much income tax average would i have to pay?